LayerZero releases Protocol RFP proposal, confirms the first step of TGE allocation

On May 11th, LayerZero Labs released a Protocol RFP proposal in the community, marking the finalization of the first step in TGE distribution. It stated that developers are the lifeline of LayerZero, and this RFP allows each project to develop its own distribution standards based on its overall token allocation. In addition, LayerZero also requires each team to provide developer addresses to ensure that the development team directly receives 10% of the allocation for developers. The proposal is realistic, and all projects that have deployed OApp, OFT, or ONFT contracts on the mainnet before Snapshot #1 and declared them on LayerZero Scan are eligible to submit proposals. An example of project allocation is: 50% allocated to cross-chain OFT users, 20% allocated to LP, 15% allocated to token holders, and 15% allocated to community members. At the same time, the LayerZero Foundation will screen based on the final witch report, and witch addresses will automatically lose their eligibility for allocation.

LayerZero reminds that the Protocol RFP is only one aspect of TGE, and more information about token distribution (including single user allocation and future protocol distribution) will be announced soon.